How it works
Recruitment runs like a sales pipeline with people in it. A first call, an opportunity talk, an interview, then a contract. Most agencies recruit from referrals first: their own advisers, their clients, and people who've sat in on a talk.
In Singapore, a new adviser becomes a representative of your firm under the Financial Advisers Act, and MAS sets what they need before they advise anyone:
- They must be 21 or older and meet MAS's academic minimum.
- They must pass RES5 and, for life policies, M9 and M9A.
- They must meet MAS's fit and proper criteria.
- Your firm notifies MAS and certifies them as fit and proper. Their name then goes on MAS's public register.
When the recruit has been an adviser or a supervisor at another firm, MAS's Guidelines FAA-G14 add a check. The new firm should ask for the last four balanced scorecard grades their previous firm gave them in the past 10 years, and weigh them before contracting.
Worked example, with made-up rates: to contract 1 adviser a month, say 1 in 4 interviews ends in a contract and 1 in 3 first calls reaches an interview. That's 4 interviews and 12 first calls a month, about 3 a week.
Recruiting is half the job. The first year decides whether they stay, so the weekly coaching and the activity you can see matter as much as the contract.
Where it shows up in your week
Recruiting works best as a weekly habit. The guide to recruiting financial advisors covers where to find candidates, the licensing rules from MAS and US regulators, and a first-90-days plan.
Related terms
Questions advisors ask
Not as an adviser. MAS Notice FAA-N26 requires the exam passes before someone is appointed for life policies.
No. In Singapore the minimum is an A Level certificate with three H2 and two H1 passes, an IB Diploma, a polytechnic diploma or an equivalent.
When you recruit someone who advised at another firm, you ask that firm for their last four balanced scorecard grades from the past 10 years.
Sources
- MAS Notice FAA-N26, Competency Requirements for Representatives of Financial Advisers, last revised 1 April 2024, read 2 November 2026
- MAS Guidelines on Fit and Proper Criteria, FSG-G01, read 2 November 2026
- MAS, Appointing a Representative for Licensed Financial Advisers or Exempt Financial Advisers, read 2 November 2026
- MAS Guidelines FAA-G14, last revised 29 December 2025, paragraph 21, read 2 November 2026